TRADE bodies and business leaders representing some of theworld's largest companies have denied claims made by the Chancellor George Osborne a delay on independence will destabilise the Scottish economy.

David Watt, executive director in Scotland of the Institute of Directors, said none of the institute's1600 members have expressed any concern as to a delay in a referendum vote.

He said: "I can't recall any of our members expressing concern, and I have seen no evidence, apart from the Citibank report published four months ago - which was also slightly bizarre because that report was focused on renewables and one place people are investing is renewables.

"Citibank issued an analysts' report some months ago advising people not to invest in Scotland because of the political uncertainty, but that is the only mention of concern I have heard publicly until now, and certainly no one has come to mere presenting a company expressing concerns about investing in Scotland in relation to an independence referendum."

UK Oil & Gas, which represents the UK offshore industry, represents the interests of some of the world's largest exploration and production firms.

A spokesperson for UK Oil & Gas said although the body has no member consensus on the issue of independence, none of its members have raised the issue as a specific concern.

The spokesperson said: "We are an organisation which is trying to improve the business environment and we do say our members will work with whichever administration is in place.

"There are many challenges which come up in industry, and this could be one of them, but it is not something we have even asked the question on and neither has it been discussed at our forums.

"The question of what Mr Cameron and Mr Osborne are saying about [the delay in the independence referendum] is one for them to back up."

Dr Peter Hughes, chief executive of Scottish Engineering, the manufacturing employers' association, said although none of its members have raised concerns publicly, the real issue is one of uncertainty.

He said: "None of our members are sticking the head above the parapet, but there is an underlying concern regarding the uncertainty.

"The one thing businesses don't like is uncertainty and, in all honesty, I think a lot of business leaders are just a bit fed up with all the talk about a referendum. They just want to get it out the road, one way or another, and get on with their business.

"Our members would obviously be happy to get a referendum out of the way, but they aren't jumping up and down in frustration about it, for a whole host of reasons."

However, Dr Hughes adds, much of the uncertainty stems from the Scottish Nationalists refusal to address key questions on the cost of Scottish independence.

He said: "Alex Salmond and his team have not answered too many questions on this issue, for example, what is going to happen long term to the defence industry, the energy sector, power infrastructure basically the cost of independence -and we haven't had any answers to these questions.

"But, to be honest, the immediate problems for business is the eurozone, because more than half of our manufacturing exports from Scotland end up in the eurozone.

"The real story, of course, is the largest companies in our sector, such as Weir Group, Aggreko, Wood Group, who are all doing extremely well in a challenging climate.

"But, if I'm being honest, none of the business leaders I have spoken with believe independence will happen.

"I think the Conservative party have raised this issue now because they have, quite frankly, said nothing since the Scottish elections and Alex Salmond has had a free run and no one is standing up against him.

"My feeling is this is all about profile, and let's face it, since the election last year, how many politicians of note have we had in Scotland? One, and his name is Alex Salmond."

Scottish financial services sector trade body Scottish Financial Enterprise also suggests it's the questions which haven't been answered by the Scottish Nationalists on the issue of independence which is causing uncertainty.

Its chief executive, Owen Kelly, said: "We think many of the uncertainties over things such as currency, financial regulation and EU membership could be reduced by investigation before any referendum.

"The outcome of an independence referendum will, of course, have an impact on business whether good or bad it will certainly be profound."

He said: "For people in business the timing of the referendum on independence is away down the list.

"What many of us are convinced about is that a productive and prosperous future for this country depends on securing real economic powers for the Scottish parliament through constitutional change.

"I know lots of business people who understand and agree with that, but haven't met any who are concerned about the timing of the referendum".

A recent survey of 109 of Scotland's top companies, published by our sister publication Scottish Business Insider in December, found 67 per cent of respondents believe independence for Scotland would not have a positive effect on their business.

Just five per cent of the firms surveyed believed independence would have a positive effect.

We asked the Scottish Conservatives to provide evidence to support the claims made by Chancellor George Osborne that a delay on the constitutional question of independence would destabilise the Scottish economy.

Conservative Under-Secretary of State for Scotland, David Mundell MP, said: "This constant delay from the SNP is causing uncertainty in the business community and its now time that Alex Salmond stopped running away from this issue.

"Its now clear that all parties,including the SNP, agree that we must have a referendum with a single question.

"It must also be one that involves the independent Electoral Commission, who were judged qualified enough to organise the recent AV vote and Welsh referendum for more powers.

"If Alex Salmond truly cares about giving the Scottish people their democratic say then he should just get on with organising a referendum.

"Lets not forget that he is not the only one who has a mandate from the Scottish people.

"In the 2010 General Election, more people voted for parties supporting the Coalition than Alex Salmond for First Minister in 2011.